Residential Search

Letting

Letting a property is serious business, whether you are an experienced investor, landlord, or a private individual letting your home for the first time. History suggests that over a period of time residential property is one of the safest and best performing investments, not only providing an excellent income but also for many a significant capital gain in the process.

Letting your property demands careful planning and you need a professional agent who will look after your interests and at the same time make being a landlord as stress-free as possible. At Grey & Co we use our knowledge and expertise to ensure that our service meets your needs and gives you peace of mind. We are committed to providing a service that is second to none. Your property is a major investment and it is important that you are aware of your responsibilities as a landlord, as well as knowing the best way to optimise your investment.

Grey & Co Lettings are members of the Association of Residential Letting Agents (ARLA), a government recognised professional and regulatory body solely concerned with residential lettings. ARLA members are governed by Principles of Professional Conduct, providing a framework of ethical and professional standards at a level far higher than the law demands. Therefore, landlords who use us can be assured that they are receiving the best and most up to date advice on all lettings matters. In order to comply with ARLA’s membership requirements, an ARLA member will have been formally interviewed to confirm that their business meets the code of conduct.

We are also a member-letting agent of the TPO. The scheme is to provide a free, fair and independent service for dealing with unresolved disputes between member agents and tenants or landlords of residential property in the UK. The Ombudsman is totally independent of the TPO member agents and reports directly to the Ombudsman council, which has a majority of non-industry members. Our reputation and experience speaks for itself. You can trust Grey & Co Lettings for complete peace of mind.

The dispute service

We are also a member of the dispute service, one of the government backed deposit protection services that will arbitrate between landlords and agents in any deposit disputes.

Letting your property - the process

If you are thinking of letting your property this brief guide will lead you through and help you to understand the procedures if you are new to the process. If you have a query about any of the following points our friendly and knowledgeable staff are happy to answer your questions.

Property Valuation

The first step is to appoint a local estate agent, who will value your property and make sensible recommendations on pricing and timescale. It is important to appoint an agent who is professional, realistic and has let similar properties recently.

Preparing your home for rental

Optimising your asset will ensure the best result so it is beneficial to complete any odd jobs that are needed prior to marketing. Try to visualise your property through the eyes of a tenant, inside and out. Potential tenants will often walk past your home before an arranged viewing so window boxes and fresh paintwork always create a good first impression. Reduce clutter, decorate neutrally and maximise light.

Energy Performance Certificate (EPC)

Safety Regulations

A number of regulations govern the letting of residential properties and all landlords must comply. This legislation includes the safety of gas appliances and electrical equipment in addition to furniture and furnishings that are included in the tenancy.

More details are available in the Sales & Lettings guide we will provide you with.

Marketing

On receipt of your signed Confirmation of Instruction Agreement we will be ready to begin marketing your property. Grey & Co Lettings Contact team will tailor our service to meet your property's needs. This will include a property-specific marketing campaign, maximising exposure of your property and ensuring we achieve the best possible price on a timescale that suits you. Grey & Co will organise professional photographs and floor plans of your property. From this we can prepare property particulars, and, subject to your approval and receipt of an EPC, upload them to our newly redesigned website available to our substantial database of prospective purchasers.

Viewings

Offers

When we receive an offer we will discuss with you the price they are willing to pay, the tenants move in and likely duration background i.e., where they work/study and any special requirements they may have. We will also discuss timescale for both parties and advise you of our opinion on the offer. All offers will also be confirmed in writing either by letter or email. Any of these offers will be subject to satisfactory references and are not legally binding on you or the prospective tenant at this stage.

Letting Agreed

Letting Agreed

When references are received and have been approved, we will arrange for the Tenancy Agreement to be drawn up and signed. This is a legally binding contract clearly defining the rent that is payable, duration of tenancy, yours and your landlord's rights and responsibilities and the scheme under which the damage deposit will be held. It is very important you read and fully understand the terms and conditions of this document.

This agreement is to be signed by both parties prior to commencement of the tenancy. All monies, deposit and advance rent, are to be received by Grey & Co before we will release keys to the tenant.

Inventory

An inventory clerk will complete an accurate list of your property's contents and an assessment of its condition. This report will be forwarded to you for your records. On termination of the tenancy this report will be used to ensure the contents and conditions have been duly maintained, barring day-to-day wear and tear.*

Rent Guarantee

Grey & Co can arrange a rent guarantee insurance policy on your behalf (if we are instructed to manage or rent collection on your property). The policy will cover you for some portion of unpaid rent should the tenant default and legal cover for the work required to evict a problem tenant. For let only properties we can put you in contact with the insurers to arrange this for you. Please contact the lettings team for further details and costs.